Somerset closes $43M sale.Somerset Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based private real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , has purchased the Conservatory at Deerfield, a 498-unit Class-A multi-family property in Mason, Ohio Mason is a city in southwestern Warren County, Ohio, United States. As of the 2000 census, Mason's population was 22,016. It was the fastest-growing and most populous city in the county. Until February 1997, it was part of Deerfield Township. , a suburb of Cincinnati, in the eighth purchase in an ongoing $400 million acquisition campaign. Keith Rubenstein, director of equity investments of Somerset Partners, made the announcement. Somerset Partners acquired the asset from MetLife for approximately $43 million. This property joins Somerset's growing portfolio of Class-A residential housing located primarily in the Southwest and Southeast. This is the company's first Ohio acquisition. Built in 2001, the Conservatory at Deerfield is located in suburban Cincinnati's highly regarded Mason School Mason School is located at 1012 South 24 Street in south Omaha, Nebraska. Designed in the Richardson Romanesque style and built in 1888, the school was closed in the late 1970s and converted into apartments. District. The purchase comes on the heels of Somerset Partners' recent acquisition of the Alta Green multi-family complex in Atlanta, GA, and marks the purchase of nearly 1,000 units of Class A housing by Somerset Partners in the past three months. According to Philip Welch, managing partner of Somerset Partners, the firm was able to purchase the asset at a favorable price based upon its current economic occupancy of approximately 70 percent, which will enable the firm to realize an upside in the improving Cincinnati market. |
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